Becomes eighth province/territory for Zenabis
products
VANCOUVER, Feb. 20, 2019 /CNW/ - Zenabis Global Inc.
("Zenabis") (TSXV: ZENA) today announced that it will formally
enter the Alberta recreational
cannabis market, supplying retailers throughout the province
through a Supply Agreement it has entered into with the Alberta
Gaming, Liquor & Cannabis Commission (AGLC). Zenabis will
supply seven strains of its premium, adult-use Namastetm
products beginning Q1 2019.
Alberta represents the eighth
province/territory that Zenabis will supply, and builds on Zenabis'
significant recent momentum in developing sales and marketing
channels for its complete range of products. On February 4, 2019 Zenabis announced an agreement
with Shoppers Drug Mart, adding a major new retail channel to serve
medical patients across Canada.
"We are thrilled to offer our products to Alberta consumers, and to grow our
distribution platform in a significant new market," said
Andrew Grieve, Chief Executive
Officer of Zenabis. We look forward to continuing the rapid
expansion of our distribution relationships in Canada and abroad."
In addition to Alberta, Zenabis
has distribution relationships with government and third-party
retailers/distributors British
Columbia, Saskatchewan,
Manitoba, New Brunswick, Nova
Scotia, Prince Edward
Island, and the Yukon
Territory.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
About Zenabis
Zenabis is a significant licensed cannabis cultivator of medical
and recreational cannabis, and employs staff coast-to-coast, across
facilities in Atholville, New
Brunswick; Delta and
Langley, B.C.; and Stellarton, Nova Scotia. Zenabis currently
owns 3.5 million square feet of facility space that can, upon full
conversion, be dedicated to cannabis production.
If all facility space is fully built out and dedicated to
production, Zenabis will own, and have access to, 660,000 square
feet of high quality indoor cannabis production space, as well as
2.1 million square feet of greenhouse space at its Langley facility that is intended to be
dedicated to cannabis production, with this cannabis production
capacity strategically located on Canada's East and West coasts. These
facilities, if fully converted for cannabis production, would have
the design capacity to yield 479,300kg of dried cannabis annually,
for both national and international market distribution. An
additional 700,000 square feet of greenhouse space will be used to
continue the existing propagation business, and this will be
converted at such a time that is beneficial to the strategic
position of the company. The Zenabis brand name is used among the
medical market, while Namaste is used to service the recreational
market.
The management team at Zenabis has significant experience in
finance, agriculture, technology, pharmaceutical sales, consumer
packaged goods, international distribution and brand marketing.
Zenabis' leadership is backed by the expertise of a Chief Operating
Officer, Chief Growing Officer, a Chief Science Officer and Chief
Medical Officer.
Forward Looking Information
This news release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives or performance of Zenabis, or the assumptions
underlying any of the foregoing. In this news release, words such
as "may", "would", "could", "will", "likely", "believe", "expect",
"anticipate", "intend", "plan", "estimate" and similar words and
the negative form thereof are used to identify forward-looking
statements. In this news release, forward-looking statements
relate, among other things, to: the sale of Zenabis products in
Alberta pursuant to the supply
agreement; and the conversion, expansion and optimization of
Zenabis' facilities. Forward-looking statements should not be read
as guarantees of future performance or results, and will not
necessarily be accurate indications of whether, or the times at or
by which, such future performance will be achieved. No assurance
can be given that any events anticipated by the forward-looking
information will transpire or occur. Forward-looking information is
based on information available at the time and/or management's
good-faith belief with respect to future events and are subject to
known or unknown risks, uncertainties, assumptions and other
unpredictable factors, many of which are beyond Zenabis' control.
These risks, uncertainties and assumptions include, but are not
limited to, those described Zenabis Management Information Circular
dated November 23, 2018, a copy of
which is available on SEDAR at www.sedar.com, and could cause
actual events or results to differ materially from those projected
in any forward-looking statements. Furthermore, any forward-looking
information with respect to available space for cannabis production
is subject to the qualification that management of Zenabis may
decide not to use all available space for cannabis production, and
the assumptions that any construction or conversion would not be
cost prohibitive, required permits will be obtained and the labour,
materials and equipment necessary to complete such construction or
conversion will be available. Accordingly, readers should not place
undue reliance on the forward-looking statements and information
contained in this news release. Zenabis does not intend, nor
undertake any obligation, to update or revise any forward-looking
information contained in this news release to reflect subsequent
information, events or circumstances or otherwise, except if
required by applicable laws.
For more information,
visit: https://www.zenabis.com.
SOURCE Zenabis Global Inc.